CMC Metals (CVE:CMB) Trading Down 20% – Here’s Why

CMC Metals Ltd. (CVE:CMB) shares fell 20% on Thursday . The stock traded as low as C$0.02 and last traded at C$0.02. 368,400 shares changed hands during mid-day trading, an increase of 215% from the average session volume of 117,127 shares. The stock had previously closed at C$0.03.

Analyst Upgrades and Downgrades

Separately, Fundamental Research set a C$0.12 price objective on shares of CMC Metals and gave the company a “buy” rating in a report on Monday, January 6th.

CMC Metals Stock Down 20.0 %

The stock’s 50 day moving average is C$0.02 and its 200 day moving average is C$0.02. The company has a market capitalization of C$3.15 million, a PE ratio of -2.00 and a beta of 0.99. The company has a debt-to-equity ratio of 8.84, a quick ratio of 2.80 and a current ratio of 2.50.

Insiders Place Their Bets

In other news, Director Kevin John Brewer acquired 2,500,000 shares of the business’s stock in a transaction dated Thursday, November 21st. The stock was bought at an average cost of C$0.03 per share, for a total transaction of C$62,500.00. Insiders have purchased a total of 2,565,000 shares of company stock worth $63,800 over the last 90 days. Corporate insiders own 5.86% of the company’s stock.

About CMC Metals

CMC Metals Ltd. engages in the acquisition and exploration of mineral properties in Canada and the United States. The company explores for silver, zinc, lead, gold, copper, antimony, bismuth, and tungsten deposits. It holds a 100% interest in the Silver Hart property that includes 116 claims covering an area of 2,017 hectares located in south-central Yukon.